11401 Marketplace Drive N Champlin, Minnesota 55316
- 91,970 Square Feet
- For Sale
Address: 11401 - 11468 Marketplace Drive N., Champlin, MN 55316
Current Occupancy: 98%
Net Rentable Area: 91,970 SF
Number of Buildings: 4
Parking Spaces: 471
Year Built/Renovated: 1997/2005/2016
The Property is being offered without an asking price.
Year One NOI: $1,173,786
Cub Foods, the market leading grocery supermarket operator, has occupancy rights through 2048. Cub Foods together with Cub Liquor comprise 74% of the Property’s total net rentable area thereby significantly mitigating tenant volatility.
LIMITED GROCER COMPETITION
The Cub Foods at Champlin Marketplace is the only full format grocery store within two (2) miles of the Property.
At 98% occupancy, the Property provides an investor outstanding cash flow and long-term residual value.
DURABLE RENT ROLL / DEPENDABLE CASH FLOW
The Property was developed in 1998 and the multitenant outlot building was added in 2005. Seventy percent of the net rentable area is occupied by original tenants and the average annual rollover in the first eight (8) years is a low 3.03%.
EASE OF MANAGEMENT
Cub Foods is wholly responsible for their parcel including all repairs, CAM, insurance and taxes.
Champlin is in Hennepin County, the State’s most populous county, and is a northern suburb approximately 18 miles north northwest of Minneapolis. Champlin experienced 9% growth since the 2000 census.
FREE AND CLEAR OF EXISTING DEBT
The Property is being offered free and clear of existing debt allowing investors to take advantage of plentiful capital and historically low interest rates.
Within 3-miles of the Property there are 63,559 people with an average household income of $93,986. Within 1-mile the annual household income is $105,868.
Area Available: 91,970 Square Feet